Asian shares edge higher after tame US jobs report
Equities are slightly stronger, but China-US trade tension and a looming deadline for the Iranian nuclear deal encourages caution
Sydney — Asian shares crept higher on Monday after a tame reading on US wages lowered the risk of faster rate increases by the Federal Reserve, although China-US trade tension and a looming deadline for the Iranian nuclear deal argued for caution. Oil prices hit their highest in more than three years as global supply remained tight and the market awaited news from Washington on possible new US sanctions against Iran. President Donald Trump has set a May 12 deadline for Europeans to "fix" the deal with Iran over its nuclear programme or he would refuse to extend US sanctions relief for the oil-producing Islamic Republic. Brent crude futures added 31c to $75.18 a barrel, while US crude climbed 44c to $70.16 to finally crack the $70 barrier. The week ahead also has important readings on the health of the Chinese economy, and hence global demand, as well as the latest data on US consumer price inflation. MSCI’s broadest index of Asia-Pacific shares outside Japan put on 0.3%, while Chine...
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